STARS COME OUT: Derek Jeter (left) chats with Miguel Cabrera before last night’s Home Run Derby.Reuters

The 3-point bombers will be back on Broadway.

Eight hours after shooting ace Steve Novak agreed to return to the Knicks on a four-year, $15 million contract, high-scoring sub J.R. Smith stopped fielding offers and accepted the standing proposal of a two-year deal starting at $2.8 million in the first season with a player option for the second. The deal is the maximum the Knicks were able to offer Smith — who may become the starting shooting guard if the Knicks decide not to match the $19 million offer sheet the Raptors extended to Landry Fields — under the rules of the CBA.

Smith’s agency CAA released a statement late last night on Smith’s behalf: “I just felt that, despite my other options, New York is the best situation for me. Coach Woodson showed a lot of faith and trust in me last season, as did Mr. Dolan and the organization. My teammates are great to play with and the New York fans are the best!”

Novak’s package was made possible by the union’s victory over the NBA in the early-Bird exception rights arbitration case.

The Knicks would not have had the wherewithal to bring back Novak, who is expected to back up the small forward slot, unless the union won the case.

“If the union didn’t win, it was impossible for him to come back to the Knicks,’’ Mark Bartelstein, Novak’s agent, told The Post. “The union really went to bat for Steve and we appreciate it.’’

Without early-Bird rights, the Knicks would have had to use their mid-level exception — which they were preserving for Jeremy Lin — on Novak. The most they would have been able to offer was a minimum deal. Novak spoke to several teams, including his hometown Bucks.

“There was a lot of interest, of course there was, he’s the best 3-point shooter in the league,’’ Bartelstein crowed.

Novak led the NBA in 3-point percentage at 47.2 percent but the Heat shut him down in the playoffs, as he was unable to get open at the 3-point stripe. The knock on Novak is he can’t create his own shot, but he should have more success now that Lin is healthy and about to be re-signed. The Knicks will match the offer sheet he signed with the Rockets.

The NBA ruled Novak had lost his Bird rights after being claimed on waivers last December. Players who are traded keep their Bird rights. The union argued a trade and being claimed off waivers is the same function of reassigning a contract. An arbitration case was staged in June, and Novak flew into New York from Milwaukee on his birthday to attend.

“He’s thrilled on many levels,’’ Bartelstein said. “He loved it in New York. He had a great relationship with the fans. He wanted to be back and we’re appreciative of James Dolan and the Knicks to make a four-year commitment.’’